Shell Brazil Holding B.V. (Shell), a subsidiary of Royal Dutch Shell plc, today marks the start of trading in shares of Raízen S.A. (Raízen), the renewable energy joint venture between Shell and Brazilian energy company Cosan, on the São Paulo Stock Exchange (B3), following the successful execution of an initial public offering (IPO).
“Shell is committed to Raízen as we grow our renewable energy business and our presence in Brazil and Argentina,” said Huibert Vigeveno, Shell’s Downstream Director. “This IPO should help Raízen to grow faster, enabling it to deliver more and cleaner energy to our customers. We believe this IPO is the best way to fund the strategy and provide consistent returns on investment for the joint venture partners and new investors alike.”
Raízen is a global leader in the production of first- and second-generation biofuel from sugar cane1. It is pursuing an ambitious growth strategy, as shown by the recent agreement to acquire Biosev and the integration of Shell’s lubricants business in Brazil into Raízen (both subject to deal completion), and the investment decision to expand Raízen’s second-generation biofuels production capacity. Growing Raízen will also contribute to Shell’s target to become a net-zero emissions energy business by 2050, in step with society.
The Shell-branded retail sites and lubricants business in Brazil and Argentina will continue to be managed by Raízen.
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